In this ever changing economic situation, most people are becoming more aware of their finances. Not only they are into earning more side income, but they are also making sure to save something for their future.
But having a percentage of your income may not be that much if that’s just going to be your only way to save. It will be better if you can incorporate it in your everyday life. This way, it will help you to make it easier to save.
1. Open a Savings Account
This is a no-brainer as it seems but most people skip this part most of the time. However, if you really want to commit into savings, you need to have an account where it should go.
This will do the trick most of the time. Make sure to automate your savings as well by setting up your savings account to extract percentage from your payroll account. That way, you get to pay yourself first before spending.
2. Be Frugal but Not Cheap
By now you know the difference. Being frugal means making the most out of your money. It can also mean that you buy quality products to ensure that it will last longer.
It depends on which items you are to pay a higher price. Choose wisely so that instead of having to pay for the repairs for buying cheap, it is best to invest in a good quality. It will save you both time and money.
3. Always Look for Alternatives
This can apply especially when you are buying grocery items. Most of the things we buy are for their brands. Make sure to check alternative products that can replace the expensive version.
If you must buy toilet paper, make sure to shop around for the best quality but at a lower costs. Remember, it will be disposed after use anyway. So stop wasting you money to buy trash!
4. Start Smart Shopping
Most expensive items are not because of their ingredients. They are selling convenience more than the product itself. So beware of these items when you have to buy them.
Perfect example is the pancake mix. If you buy the flour, baking soda and eggs, it will be the same outcome. Not only can you make more from the same costs but it can also save you from buying redundant stuff.
5. Stop Being Lazy
Walk for your health and wallet. If you just have to go to the shop a few blocks away from your house, don’t take your car with you anymore. If its bit far, get a bicycle and ride.
It’s convenient to always drive around with your car. But it will cost you money to pump gas and it adds up if you do this all the time. Plus walking or cycling can save yourself from having to go to the gym.
6. Go Green
If you have the time away from work and have some space where you live, plant something. Starting your own garden will be the best therapy for you. It will relieve stress from your usual routine.
Grow your own food while you are on it. Fill your backyard with veggies and some herbs and spices. Not only it will make you relax, it will also save you money from having to buy them all the time.
7. Get Solar Panels
If its good if you live in a place where the sun shines most of the time. You can save money from using electric all the time if you use solar power to light up your dark nights. Plus its also good for the environment.
Most modern houses nowadays have it on their roof so charging it will be instant. It can at least lessen the use of electricity if not eliminate it totally.
8. Cook in Bigger Portion
Since you will be cooking anyway, why not cook in a bigger portion so that it will save you time, money and effort. You can freeze them after putting them into microwavable containers. When you get hungry, just reheat it and you will have an instant meal!
If you have your meal planned for the entire week, it will save you from the need to cook every time you are hungry. You can use that time to do other things that you have to do or get an extra relaxing moments.
9. Buy Wholesale
This can’t be hard anymore since most of us do it all the time. However, make sure that you will do it on the items that you mostly use and consume. Do not buy in bulk just because it is on sale. You might end up throwing more way and ends up wasting money.
Buying in bulk can also be handy in case your colleague or neighbor might need those items and have no time to run to the shop. Sell it to them with a convenient fee so you can earn extra on the sides as well. That way, you can help a friend in need and add more into your savings account.
10. Stop Expensive Habits
How many times have you read about the expensive coffee advice? Well, there’s a good reason for that. You can treat yourself from time to time but getting coffee from a cafe is not practical. If you are serious about saving up, stop fooling yourself and just brew it yourself.
Buying expensive treats for yourself is good occasionally though. But stop making it a habit. It is not necessary to do that. Plus it will lose its value if you can always get it anytime. So keep it in minimum. It can make your piggy bank fatter that way.
Saving up is a lifestyle. If you want to always have enough back up in times of need, this is the best way to go. Having more money can let you grab deal of a lifetime which can change your life big time. So start doing it and be wiser with your finances.